FG To Increase VAT From 5 to 7.2 Percent.
FG To Increase VAT From 5 to 7.2 Percent
The Federal Government has said that consultations will begin at all levels on the review of the Value Added Tax, (VAT) from 5 per cent to 7.2 per cent
“We will begin consultations and consultations will be at various levels in the country. So it includes consultations with the states, with the local governments, with the parliament as well as with the Nigerian public. For the VAT increase to take effect, there has to be an amendment to the VAT Act,” she said.
Mrs Ahmed who spoke on the bailout funds issued to states by the Central Bank of Nigeria said it wasn’t a grant but that it was meant to be refunded.Read more: Channels Television
Reduce your salaries President Buhari's total emoluments stand at N14M* Vice President Osinbajo's total emoluments stand at N12M* Senators in Nigeria earn N36M* My humble suggestion is that President Buhari should slash his salary by 50% making it N7M and his VP becomes N6M
FG increases VAT to 7.2%.................................................Nigeria News - THE Federal Government has proposed an increase of the Valued Added Tax, VAT from five percent to seven point two percent.
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